Research >> Economics
Kansas City Fed Manufacturing activity shows continued weakness
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Tenth District manufacturing activity weakened further in December, and firms’ expectations for future activity remained pessimistic. Price indexes in the survey also fell for the second straight month.
The net percentage of firms reporting month-over-month increases in production in December was -21, up from -31 in November and -23 in October. Among both durable and nondurable goods producers, production fell at fewer plants than in November. The month-over-month factory indexes generally posted further declines from November’s weak numbers. The shipments index rose to -17 in December from -38 in November. Similarly, the new orders index increased to -30 from -39. However, both the employment and new orders for exports indexes recorded their lowest levels, -33 and -17 respectively, in the survey’s fourteen-year history. The raw materials inventory index fell in December to -18, another all-time low. The finished good inventory index also fell to -3 from 1.
Posted: December 30, 2008 Tuesday 11:01 AM